Stonehenge Technology Labs wants buyer boxed goods companies to gain meaningful usage from all of the data they compile. It announced$ two million in grain funded for its STOPWATCH industry improvement software.
The round was led by Irish Angels, with participation from Bread and Butter Ventures, Gaingels, Angeles Investors, Bonfire Ventures and Red Tail Venture Capital.
CEO Meagan Kinmonth Bowman founded the Arkansas-based company in 2019 after working at Hallmark, where she was tasked with the digital change of the company.
“This was not a consequence of them not being good marketers or connected to mom, but they didn’t have information and communication technologies to connect their back end with retailers like Amazon, Walmart or Hobby Lobby, ” she told TechCrunch. “There are so many smart beings constructing concoctions to connect with buyers. The challenge is the large-scale chaps are doing things the same way and not speculating like the 13 -year-olds on social media that are actually triumphing the space.”
Kinmonth Bowman and her unit recognized that there was a missing middle layer connecting the world of dotcom with brick and mortar. If the midriff layer could be applied to the enterprise resource designs and integrate public and private data feeds, a company could be just as profitable online as it could be in traditional retail, she said.
Stonehenge’s answer to that is STOPWATCH, which takes in over 100 million rows of data per workspace per date, analyzes the data points, adds real-time alarms and provided with right data to the right people at the right time.
Dan Rossignol, a B2B SaaS investor, said the CPG world is also about consumerizing “peoples lives”, and the global pandemic showed that even at home, parties could have a fertile epoch and business. Rossignol likes to invest in underestimated benefactors and investigated in Stonehenge a company that is getting CPGs out from underneath antiquated technologies.
“What Meagan and her squad are doing is really interesting, ” he contributed. “At this stage, everything all about the people, and the ability to bet on doing something larger.”
Kinmonth Bowman said she had the opportunity to base the company in Silicon Valley, but chose Bentonville, Arkansas instead to be closer to the more than 1,000 CPG companies based there that she felt were the prime patron basi for STOPWATCH.
The platform was originally created as a subsidiary of a consulting companionship, but in 2018, one of their clients told them they just wanted the software rather than likewise paying for the consulting article. The business was separated, and Stonehenge vanished subterranean for eight months to make a software product specifically for the client.
Kinmonth Bowman admits the technology itself is not that sexy — it is using precise delivery onus to remove data from hundreds of systems into a “lake house, ” and then siloing it by retailer and other factors and then presenting the data in different ways. For speciman, the CEO will miss different metrics than product teams.
Over the past year, the company has doubled its revenue and likewise double-faced the amount of contracts. It previously weighs several Fortune 100 companies and emerging firebrands as some of its early consumers and plans to use the new funding to hire a sales team and go after some strategic relationships.
Stonehenge is also working on putting together a diverse personnel that imitatives the subscribers of the application, Kinmonth Bowman said. One of the challenges has been to get unique talent to move to Arkansas, but she said it is one she is eager to take on.
Meanwhile, Brett Brohl, administering partner at Bread and Butter Ventures, said the Stonehenge team “is just crazy enough, smart and driven” to build something great.
“All of the most difficult business have been around for a very long time, but not a good deal of vast arrangements have done good work digitizing their businesses, ” he said. “Even pre-COVID, they were building fill-in-the-blank digital conversions, but COVID intensified technology and hit a lot of companies in the face. That was stirred more obvious to end consumers, which positions more pressure on companies to understand the need, which is good for STOPWATCH. It started from paper to Excel spreadsheets to the next gloom revision. The hour is right for the next hurry and how to use data.”
Read more: feedproxy.google.com